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<br />AGREEMENT <br /> <br />HOUSING DEVELOPMENT <br /> <br />Developer shaU develop a THffiTY EIGHT (38) unit subdivision, of which TWENTY THREE <br />(23). OR SIXTY PERCENT (60%) of the homes will be initially purchased by low and <br />moderate income families. <br /> <br />SECTION 4. REPAYMENT OF GRANT FUNDS <br /> <br />Developer agrees to repay Community for contract funds expended in the event Developer does <br />not fulfiU its responsibility under this agreement and for aU budget items exceeding grant amount. <br /> <br />SECTION 5. OUARTERLY VISITS <br /> <br />Community shall make quarterly on-site visits to the project site to assess/monitor the progress <br />toward the project and Developer shall provide local officials at the time of on-site visits <br />information regarding the housing units and any other information deemed necessary by the <br />Community to administer the contract. <br /> <br />SECTION 6. RECORDS <br /> <br />Developer shaU keep records and make reports regarding the documentation oflow and moderate <br />income benefits and beneficiaries by race, ethnicity, gender and handicapped status in the same <br />manner and to the same extent as the Texas Department of Housing and Community Affairs <br />requires of the Community. <br /> <br />.' <br />"I <br /> <br />SECTION 7. GENERAL WAIVER BY DEVELOPER <br /> <br />Developer hereby waives and releases Community from aU claims for loss or damage caused by <br />any act or omission of the Community, its employees, or agents, except for willful misconduct and <br />except as otherwise provided by the Texas Uniform Commercial Code. <br /> <br />SECTION 8. DEFINITION OF TERMS <br /> <br />Unless the context otherwise indicates all terms used herein which are defined in the Texas <br />, <br />Uniform Commercial Code shall have the meaning herein stated. <br /> <br />Page 2 of 4 <br />